The daily Davis Index for P1020 on Wednesday rose by Rs3,750/mt ($50.45/mt) to settle at Rs210,288/mt ex-works India producer after Hindalco and Balco raised their product prices on June 30 from June 26 in sync with the gain in the LME aluminium spot contract.
Hindalco increased its product prices by Rs5,750/mt ($77.35/mt) and Balco by Rs5,500/mt ($73.98/mt) on June 30 from June 26, following the climb in LME aluminium levels. Earlier both the companies had raised their product prices by Rs4,500/mt on June 26 from June 23.
The official LME aluminium spot contract rose by $67.5/mt to settle at $2,518.5/mt on June 29 from June 25.
The daily Davis Index for ADC 12 settled at Rs211,186/mt ex-works India producer, up by Rs2,750/mt. The Davis Index for CG 99.5 increased by Rs3,750/mt to settle at Rs209,871/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs215,793/mt es-works India producer up by Rs3,750/mt.